1.The following data set is the list of 10 topmost richest person in the world from the 2020 Forbes issue. (Total: 5 marks; 1 mark each)

Name

Ranking

Net Worth ($Billions)

Age

Country

Source

Industries

Jeff Bezos

1

113

56

USA

Amazon

Technology

Gates, William

2

98

64

USA

Microsoft

Technology

Bernard Arnault & Family

3

76

71

France

LVMH

Fashion & Retail

Buffett, Warren

4

67.5

77

USA

Berkshire Hathaway

Finance & Investment

Larry Ellison

5

59.0

75

USA

Software

Technology

Amancio Ortega

6

55.1

63

Spain

Zara

Fashion & Retail

Mark Zuckerberg

7

54.7

3584

USA

Facebook

Technology

Jim Walton

8

54.6

712

USA

Walmart

Fashion & Retail

Alice Walton

9

54.4

70

USA

Walmart

Fashion & Retail

Rob Walton

10

54.1

75

USA

Walmart

Fashion & Retail

a.How many elements are in the above data set?

b.How many variables are in this data set?

c.How many observations are in this data set?

d.Which variables are categorical, and which are quantitative?

e.What measurement scale is used for each variable?

2.The amount of time that a sample of students spends watching television per day is given below. (Total: 10 marks; a-c: 2 marks each, d: 4 marks)

Time

(in Minutes)

1

50

2

75

3

155

4

35

5

65

6

80

7

70

8

40

9

55

10

70

a.Compute the mean & standard deviation

b.Compute the median & range

c.Compute the 1st & 3rd quartiles

d.Using the IQR method, identify the outliers - if any.